Brooklyn New Lab Development is an innovative multi-disciplinary technology center that launched in 2016. Located in the Brooklyn Navy Yard, the development boasts an 84,000 sqft space in the southwest of the building 128. The development of translating the vision of encapsulating a new understanding of technology manufacturing and creating jobs for economic resilience, especially in New York City.
The idea of the development was started after the global financial crisis hit in 2008-09. The administration at that time determined to find a new source of economic growth. The technology sector was proven to be resistant to an economic shock. It was proven by the highest growth of jobs compared to other key industry sectors that support New York City economic growth.
The New Lab development is a Private Partnership Project between the New York City government and the private sector, Macro Sea. Up to this time, the New Lab Development has fostered more than 100 companies and attracted many venture capitalists. Without a doubt, the development has contributed to the NYC government's effort to achieve economic sustainability.